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Posted by prtex on April 2, 2007, 5:58 pm
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Here is my situation. I have a compliance case and a
collections case. My compliance case is for not filing my
1040 for 2003, 2004, and 2005; and for not filing 941
returns for all four quarters of 2001 and the first three
quarters of 2002.
My collections case is for over $28,000.00 for years prior
to 2001, plus taxes on my income for 2003-2005, and 941
taxes yet to be determined. I have filed some of the returns
I need to file to get into compliance. I will file the rest
in the next week or two. I have received a lump sum
disability check from Social Security. It is around $20,000.
Obviously, I want to keep as much of that money as I can. I
have also been told that I can use it to pay legitimate
debts. I am getting my credit reports so I will know how
many debts I have outstanding. I am also receiving a monthly
benefit check of $700- $800. (It keeps changing every
month.)
This is my current living situation: I am living with my
brother and his wife, without paying rent. I pay for food
and other expenses occasionally. I am very willing to
execute a lease with them, and pay them rent. Would the IRS
let me pay them back rent for the months before I got my
lump sum, or before I got my first monthly check? As I
understand it, I have two options: an installment plan and
an Offer in Compromise. Of course I would prefer the Offer.
What can I do to arrange my finances to increase my chances
of being turned down for an installment plan, and of having
an Offer accepted?
Thank you in advance for any help you can give me with this.
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